Liverpool are on the verge of signing Spanish full back Javier Manquillo from Atletico Madrid, after the 20-year-old flew to Merseyside to undergo a medical, according to the Liverpool Echo.
Manquillo is set to join Liverpool on a two-year-loan deal, with the option of signing on a permanent deal for around £5million.
Under the terms of the deal, the fee will be decided on how many appearances Manquillo makes at Anfield over the next two seasons.
Chief executive Ian Ayre flew to Spain earlier in the week to negotiate the deal for Manquillo, and is also understood to be close to agreeing a fee for Sevilla left back Alberto Moreno.
The Reds have been chasing Moreno since May, with Sevilla demanding a fee of £20million for the Spanish international.
Talks are thought to be at an advanced stage for Moreno, with Liverpool confident of agreeing a fee and a payment structure for the 22-year-old.
Manquillo meanwhile is set to become the Reds seventh signing of the summer, and will compete with Glen Johnson, Martin Kelly and Jon Flanagan for the right back position.